By Josh Beckerman
Nabors Industries shareholders voted against an advisory “say-on-pay” compensation proposal, a frequent outcome for Nabors since companies began holding the votes as required under the 2010 Dodd-Frank financial legislation.
The oil-field services company said in a securities filing that there were 3.3 million votes in favor and 5 million against.
Nabors said in its April proxy filing that it was disappointed by the negative vote in 2022 and “continues to take steps to address the low level of support.” It noted steps taken to address compensation in response to stockholder feedback, and a “meaningful reduction” to total direct chief executive compensation.
Write to Josh Beckerman at [email protected]
Read the full article here
